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Thursday, 6 August 2015

Full List of Debtors: Dangote, Otudeko,Otedola among Nigerian Billionaires in debt!

Troubled Banks: Dangote, Otedola among Debtors (FULL LIST ATTACHED)

Companies belonging to top operators of the nation’s stock market and the oil industry, as well as well-connected billionaire businessmen, featured prominently on the list of largest debtors of the five troubled banks released last night by the Central Bank of Nigeria (CBN).

Many other operators of the capital market also featured on the list, collectively owing dozens of billions of naira.Also on the list are Mr. Femi Otedola, Barrister Jimoh Ibrahim, Mr. Fola Adeola, Chief Lulu Briggs, Mr. Aig-Imokhuede, Dr. Peter Odili and Alhaji Arisekola Alao, whose companies owe billions of naira to the five banks.

The CBN last Friday sacked top managers of Intercontinental, Oceanic, Union, Finbank and Afribank, and injected N400 billion bailout, because the banks were being weighed down by non-performing loans amounting to over N1 trillion. The apex bank threatened to expose the debtors unless they defray the loans.

The CBN made good its threat last night by posting a statement on its website, listing more than 100 companies and individuals it said were debtors of the five troubled banks.

“Following the recent regulatory action of the Central Bank of Nigeria on the five (5) banks, it has become necessary to use this medium to request the following defaulting customers of the affected banks to pay without further delay their indebtedness, failing which the banks will take all appropriate legal actions to ensure repayment. These are the largest debtors and the CBN will continue to

publish the list of defaulters on an on-going basis,” the CBN statement said.

Between them, the five ailing banks account for 40 percent of banking sector credit. The loans included credit to speculators on the stock market, down more than 60 percent from its peak in March 2008. They also include unsecured financing to fuel importers who have had to contend with a sharp fall in global oil prices from above $140 a barrel last year to half that level.Source: DAILY TRUST